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New Member

I need the form to report cashing in bonds

I am in NYS.
1 Reply
New Member

I need the form to report cashing in bonds

To record your Savings Bond interest

  1. Log on and continue your return then
  2. Press the TurboTax "Search" button near the top right of your screen
  3. Type "1099-int" into the TurboTax search box
  4. Select "Jump to 1099-int" from the dropdown list of results
  5. If you reach the "Here's the interest we have so far" screen, click "Add interest income"
  6. On the "Let Us Enter Your 1099-INT" screen, scroll down and press "I'll type it in myself"
  7. On the "Let's get the details from your 1099-INT or brokerage statement" screen, be sure to check the checkbox for "My form has info in more than just box 1 (this is uncommon)" (Refer to the attached image)
  8. You can now add Box 3 interest from your savings bonds.
  9. Continue along with answering the questions in the following screens and pressing "Continue"
  10. If you reach the "Did you cash any Series EE or I U.S. savings bonds?" screen, press "Yes" if you did
  11. On the "Did you use your U.S. savings bonds to pay for higher education expenses?" screen, press "Yes" if you used your savings bonds for educational costs
  12. If you qualify, TurboTax will help you to record your exclusion of savings bond interest for Form 8815 on a series of screens

Read more about Form 1099-INT below:

Form 1099-INT is used to report interest income from banks, brokerages, and other financial institutions. These earnings are always reportable and are usually (but not always) taxable.

Although 1099-INT forms are not required to be issued for amounts less $10, you're still supposed to report the interest on your return.

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